MKT 337 Milestone Two Guidelines and Rubric

MKT 337 Milestone Two Guidelines and Rubric

Overview

For this milestone, due in Module Five, you will submit a breakdown of your marketing mix for the product you are launching as the application subject for your final marketing research brief.

Prompt

First, review the Prezi presentation Segmentation from MKT 113 on market segmentation as well as pages 15–17 of The Essentials of Marketing Research regarding the four marketing mix elements: product, price, place, and promotion.

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Next, considering your new product concept, address the following in a 4- to 6-page paper:

• Describe your target audience using demographics based on your secondary and primary research to date.
• Explain how internal and external organizational factors might influence the target demographic of your new product.
• Is your product needed in the market? Provide examples to support your position.
• Explain your pricing strategy and why it is appropriate in the market using findings from your secondary and primary research.
• Explain your placement/distribution strategy and why it is appropriate for this product and this audience/segments. Include speculations into how this target market might respond.
• Explain your promotional strategy for the new product concept and why it is appropriate for this audience/segments.
• What are some potential ethical and legal implications of the marketing promotion you will be recommending?
• Describe how your marketing mix elements align with industry trends identified in your research. MKT 337 Milestone Two Guidelines and Rubric

Instructor feedback on this milestone should be incorporated into your final project.

What to Submit

Milestone Two should be 4–6 pages, double spaced, using 12-point Times New Roman font, one-inch margins, and the latest edition of the APA manual for formatting and citations.

Please note that the grading rubric for this milestone submission is not identical to that of the final project. The Final Project Rubric will include an additional “Exemplary” category that provides guidance as to how you can go above and beyond “Proficient” in your final submission.

[Note: To complete this template, replace the bracketed text with your own content. Remove this note before you submit your paper.]

Milestone Two: Marketing Mix

[Your Name]

Southern New Hampshire University

MKT 337: Marketing Research

[Your Instructor’s Name]

[Date—for example, May 1, 2021]

[Title of Paper: Milestone Two]

Marketing Mix Elements: Potential Target Demographics

[In this section, explain the potential target demographics of the new product and details showing insight into the various identifying characteristics of the potential target demographics.

Please include in-text citations for any supporting research you include to align your target market with its interest in your product. An in-text citation may look like this: (Author Last Name, year). Refer to the end of this template for helpful, free resources to guide you in creating your reference list and corresponding in-text citations.] MKT 337 Milestone Two Guidelines and Rubric

Marketing Mix Elements: Internal and External Organizational Factors

[In this section, evaluate the influence of internal and external organizational factors aligned with the present potential demographic, and demonstrate insight into the relationship between internal and external factors to predict potential misalignment with selected target and organizational goals. These are different from your SWOT items. Examples of internal and external factors include internal leadership, corporate structure, corporate communication, corporate mission and vision, ability to manage external factors, technology, regulations, politics, economy, social issues, and so on.

Please include in-text citations with your references to previously published material.]

Marketing Mix Elements: Product Need

[In this section, identify why the target market needs your product, and provide supporting examples.]

Marketing Mix Elements: Pricing Strategy

[In this section, identify an appropriate pricing strategy for your product and provide examples of why this strategy is the best option; demonstrate insight into the relationship between your target markets and the pricing strategy you selected. Please include in-text citations with your references to previously published material.]

Marketing Mix Elements: Placement of Product

[Determine the appropriate placement of your product in the market; this may be at a brick-and-mortar location, available online, or through a specialized sales force—or a combination of some of these options. Also, include speculations into how your target market might respond, and demonstrate insight into the interplay between product placement and target market.]

Marketing Mix Elements: Promoting the Product

[In this section, you will determine the most effective method(s) to promote your product. Provide examples to support your claims, and demonstrate deep understanding into effective product promotion and how it connects to target audience. Please include in-text citations with your references to previously published material.]

Marketing Mix Elements: Implications

[In this section, describe any potential ethical and legal implications that may arise from your recommended marketing promotion. Demonstrate a sophisticated awareness of applicable ethical and legal implications involved in recommending a marketing promotion. Please include in-text citations with your references to previously published material.]

Marketing Mix Elements: Industry Trends

[In this section, describe how the research you conducted for your marketing mix elements aligns with marketing trends—focusing on your product, price, place, and promotion. Demonstrate insight into the interplay between industry trends, marketing strategy, and marketing research. Please include in-text citations with your references to previously published material.]

References

[Include any references cited in your paper in full APA format. Don’t forget to include in-text citations as well.]

[Delete this note and the information below before submitting assignment.]

Helpful Resources

Babin, B. J., & Zikmund, W. G. (2019). Essentials of marketing research. Cengage.  MKT 337 Milestone Two Guidelines and Rubric

Additional resources:

Free, helpful resources that create both in-text citations and references:

• org
• com
• net
• com

SNHU Writing Center Guides

SNHU citation and in-text examples:

“How Do I Cite My Sources in APA Style?”: https://libanswers.snhu.edu/faq/8616

APA In-text Citations and Examples: https://libguides.snhu.edu/c.php?g=157152&p=2052916

As an example, the in-text citation for our textbook is “(Babin & Zikmund, 2019).” MKT 337 Milestone Two Guidelines and Rubric